Debt Rattle September 18 2019
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Henri Matisse Antibes 1908 • Fed Concludes First Repo In A Decade Amid Liquidity Panic (ZH) • Big Banks Score Win As FDIC Proposes Easing Post-
[See the full post at: Debt Rattle September 18 2019]“chipping away at regulations put in place following the 2007-2009 financial crisis could sew the seeds of the next one.”
…Unless your plan IS to have a financial crisis, capture the Fed back into the Treasury, and repudiate/restructure the debt. Then it’s a great idea. Without an adequate crisis, nothing can get done.
“Was there any damage at all? Didn’t I read that they hit a bunch of empty tanks?”
I’m hearing the same thing, which may be why the markets didn’t move that much. So again, Iran couldn’t wait a day to see their arch-enemy Bibi lose his freedom, AND sent 20 cruise missiles 100 ships with the world’s-most-sophisticated-radar couldn’t see, AND also when those missiles hit, they didn’t really damage anything? Uh-huh.
“That won’t be the case in the Spygate scandal, because this wasn’t an off-the-books dirty tricks group like The Plumbers running an operation against the Trump campaign. This was the federal government itself, making use of the official engines of its intelligence and law enforcement agencies and surveillance courts to spy on a political campaign and, then, a presidency.”
Yes, but nobody cares, because: My side, right or wrong. The end always justifies the means, and “civility can start again…[when we] win back the House and or the Senate.” –Hillary Clinton. Until then, no civil government, no civil democracy, no ceding of power to the winning side. For: “You cannot be civil with a political party that
wants to destroy what you stand for,” disagrees with you in any way.So it goes. But the nation is catching on, tiresome though it is.
“Unless this behavior is punished with the utmost severity, no one will ever be able to place trust in the federal government.”
Hardee har har. We don’t even have the minimum severity. For any crime, no matter how how treacherous, how treasonous, how murderous, or how well publicized. I mean, Bush, Cheney, and Rumsfeld are still walking around. Mueller is well-known to have railroaded 4 or 5 high-profile defendants, the Federal government paid out your tax money in civil suits for his crimes, and he’s a national hero. Meanwhile, we have a lot of trust the federal government is using the FBI to wiretap Quakers, anti-war journalists, and whistleblowers who embarrass them for their unrelenting serial felonies.
“House Panel Asks Boeing CEO to Testify October 30 on 737 MAX (R.)”
Speaking of, the Federal government and regulators not prosecuting an openly publicized mass-murder. Just like the regulators in medicine and opioids, the regulators in the SEC and CFTC with gold rigging and market spoofing, the regulators in gambling, the regulators at the FDA with vaping, the regulators with monopolies, the regulators with the EPA and releasing toxic ponds, the regulators…
But I have an answer! More regulators! More laws! More government!!! That’ll fix how literally not a single person from Enron to Fannie to Madoff to Boeing can do their job! I’ll just give them MORE money! And the worse they do, the more money I’ll give! That’ll larn ‘em but good!
“Democrats Urge New Probe of Kavanaugh, Impeachment Inquiry (R.)”
Okay, great! But he’s had like ten background checks in inquiries already due to his career.
FBI: “Hi, we’re calling about allegations that Kavanagh’s FRIENDS, not him, assaulted him and shoved him into an innocent third party. If true, this still wouldn’t be HIM assaulting anyone. What can you tell us?”
Witness: “Well, the NY Times published that I was the victim, but I don’t remember that, or anything like it happening, with him, or anyone else, ever, at any time.”
FBI: “Thank you, investigation over.”I do find it hilarious that “Nadler also said his panel had its “hands full” with investigating Donald Trump.” because he has no idea what event or crime is under suspicion here. But he’ll make up something, just like the NYT, the WaPo, CNN, and everybody else. …Meanwhile, he’s giving air support for bombing Yemeni civilians and paving the way for Palestinian land grabs, but can’t. find. nothin’.
“Trudeau Reassures Allies Amid Alleged Spying Case (BBC)”
Every day is a new lie, well-known because an adult said words which were published in the paper = proven lie. There is NOTHING in the case that even SUGGESTS Russia. Here’s a clue for you: the Canadian in question was an expert on Asia and fluent in Mandarin. Gosh, who could it be? I think RussiaRussiaRussia. Because no facts whatsoever have been released, and it could be Theresa May, Hillary Clinton, or El Chapo for all we know.
The UK Supreme Court is in the middle of a 3-day hearing about who controls the country (aka is the currents suspension of Parliament legal). It seems beyond odd that such a hearing is deemed necessary (write it down!). The courts rule in matters of law, but not politics. But what if there is no applicable law? Crazy as it sounds, they may find just that. From BBC:
Dominic Casciani – Home Affairs Correspondent: Two important interventions from the justices. Lord Wison pushes Sir James Eadie on whether they are really being asked to interfere in politics or uphold a “precious legal principle” – meaning Parliamentary sovereignty.
Lord Wilson asks the government’s top man: “Is there anyone else better placed than us” to uphold parliamentary sovereignty? Sir James, in short, questions whether Parliamentary sovereignty has been breached at all – it still has power to make and break laws.
Next Lord Kerr, the former chief justice of Northern Ireland, ponders: Let us supposed a PM wants to stifle debate and he decided to prorogue for one year…
Sir James Eadie, for the PM, acknowledges that was the “gauntlet thrown down” by Lord Pannick QC, for Gina Miller yesterday. He indicates he’ll say more on this later.
Eadie, for the PM, holds that the courts have no jurisdiction in the case. Then again, everyone will agree that the legislative is senior to the executive. Only, prorogation allows for the PM to at least appear senior over Parliament. And if Parliament is suspended, it cannot ‘execute’ its sovereignty. You’re not sovereign if a third party decides when -and when not- you can ‘execute’ your sovereignty.
It’s a pretty ordinary power game. But if there’s no law forbidding it, what can the Supreme Court do?
The House of Saud has ruthlessly bombed and starved poor Yemenis for the last 5 years, without fear of consequences, let alone retaliation.
The world is hurriedly recalculating the financial implications of that Yemeni brick through the west wall of the Glass House of Saud.
The devastating blitz on Saudi Arabia’s oil industry has led to a flurry of accusations from US officials blaming Iran. The reason for the finger-pointing is simple: Washington’s spectacular failure to protect its Saudi ally.
The Trump administration needs to scapegoat Iran for the latest military assault on Saudi Arabia because to acknowledge that the Houthi rebels mounted such an audacious assault on the oil kingdom’s heartland would be an admission of American inadequacy.
Saudi Arabia has spent billions of dollars in recent years purchasing US Patriot missile defense systems and supposedly cutting-edge radar technology from the Pentagon. If the Yemeni rebels can fly combat drones up to 1,000 kilometers into Saudi territory and knock out the linchpin production sites in the kingdom’s oil industry, then that should be a matter of huge embarrassment for US “protectors.”
American defense of Saudi Arabia is germane to their historical relationship. Saudi oil exports nominated in dollars for trade – the biggest on the planet – are vital for maintaining the petrodollar global market, which is in turn crucial for American economic power. In return, the US is obligated to be a protector of the Saudi monarchy, which comes with the lucrative added benefit of selling the kingdom weapons worth billions of dollars every year.
According to the Stockholm International Peace Research Institute, Saudi Arabia has the world’s third biggest military budget, behind the US and China.
https://www.rt.com/op-ed/468935-saudi-oil-field-drone-attack/This is just going to get more embarrassing with each passing day…
Saudi Arabia revealed yesterday that, contrary to its initial estimates, Aramco should be able to restore oil production to 100% capacity by the end of the month. And on Wednesday morning, the kingdom’s Defense Ministry said it was planning a press conference to present “material evidence” purportedly linking Tehran to the unprecedented attack on the Kingdom’s oil infrastructure.
The country’s defense ministry will hold a news conference later in the day laying out new evidence. This follows reports from the US claiming that the roughly 20 missiles and drones used in the attack had been traced back to a ‘launch site’ in southern Iran.
https://www.zerohedge.com/geopolitical/saudi-arabia-says-it-has-material-evidence-tying-iran-aramco-attackJapan says they don’t know of any evidence that Iran attacked Saudi Arabia, and believe that the Yemenis did it, like they said.
(It could be more than one attack, and Israel could have done the second one. Yemen made 10 holes. Who made the other 7 holes?)
https://www.reuters.com/article/us-saudi-aramco-attacks-japan-idUSKBN1W30KVIran tells Saudi Arabia it should see missile strike on its oil facilities as a WARNING and end its war with Yemen
Sounds like reasonable advice. The House of Saud should pay for some food, medicine, electricity, water, sewer, and hospitals, too.
https://www.dailymail.co.uk/news/article-7476507/Iran-tells-Saudi-Arabia-missile-strike-oil-facilities-WARNING.htmlThere is a sudden desperate rush for $US right away, and nobody can seem to say why. There may be panic in covering some kind of speculation, which we might presume has flipped negative from the successful cheap-Yemeni-drone attacks on the big Saudi refinery.
What cascading repercussions are underway now?
https://www.zerohedge.com/health/fed-begins-repo-operation-funding-rates-ominously-elevated-across-board
https://www.zerohedge.com/markets/fed-funds-prints-230-breaching-target-range-libor-replacement-soars-remarkable-525Trump talks big to move financial markets (and Israeli elections?), then quietly moves to reduce actual risk.
It appears oil markets just heard that one – since the early Saturday attacks on Saudi Aramco facilities talk of war has been on the table, especially given President Trump’s initial “locked and loaded” threat – however it now seems certain there will be no war, given the president has announced new sanctions.
”I have just instructed the Secretary of the Treasury to substantially increase Sanctions on the country of Iran!” Trump tweeted Wednesday morning.
https://www.zerohedge.com/geopolitical/war-avoided-trump-announces-new-iran-sanctions-insteadTrump names Mormon Hostage Negotiator, Robert O’Brien to National Security Adviser post. (whazzat gonna mean?)
It looks like he has a lot of experience negotiating settlements for blowback-damage mitigation. Negotiate with Iran?
https://www.zerohedge.com/political/trump-nominates-special-envoy-obrien-replace-bolton-national-security-advisor#comment_streamWe are members of nature, participants in the web of life on Earth, not separate owners/managers of lifeless property. Grow vegetables.
In the Anthropocene, we are seeing more and more how the fates of humanity and nature are intertwined. Governments and corporations have developed such control over the natural systems they exploit that they are destabilising the fundamental chemistry of the global climate system. As a result, inhospitable heat, rising seas, and increasingly frequent and extreme weather events will render millions of humans and animals refugees.
https://theconversation.com/humanity-and-nature-are-not-separate-we-must-see-them-as-one-to-fix-the-climate-crisis-122110What actual steps need to be taken to consider Green New Deal concepts as the basis for a long term, sustainable economy, that will support global life forms and healthy ecosystems? What is the next step after Sparkle-Pony?
But here is the problem. Increases in the scale of economic activity (as conventionally measured in terms of GDP) are associated with increases in the throughput of energy and materials, and these increases have involved increased emissions of greenhouse gases, resulting primarily from the extraction and combustion of fossil fuels. Green growth, requires that this association between GDP and GHG emissions must cease to exist: this is known as ‘decoupling’. It is doubtful whether any developed country has achieved this at the scale and permanence required (Burton and Somerville 2019, pp. 99–101), especially when international shipping and aviation plus embodied carbon in imports are taken into account (Anderson 2019)…
So the desired, clean, growth of the economy has undesirable implications in terms of additional resource and energy use. Clean begets dirty…
So far, increases in renewable energy deployment have not led to a reduction in fossil fuel usage globally. Overall their deployment has been to add to the global energy mix rather than replacing fossil fuels. Moreover, it is doubtful whether renewables can provide the scale of concentrated energy used by the current global economy: the constraints are less in the power that could theoretically be generated from natural flows than in the minerals needed to deploy them: minerals used in generators and motors, in batteries and in electronics, as well as copper for transmission of power (García-Olivares 2015). These are finite and with limited substitutability. The revolution will be low powered, so the Green Deal has to factor in a plan for energy descent…
…You can’t create minerals from sunlight. These economic consequences of the increasing scarcity and inaccessibility of most minerals and metals need to be addressed in any credible Green Deal, yet there is almost no discussion of this crucial reality in any of the proposals, nor of the ‘hidden’ resource intensive demands of new technology…
“Four of nine planetary boundaries have now been crossed as a result of human activity:
Two of these, climate change and biosphere integrity, are what the scientists call ‘core boundaries’. Significantly altering either of these “core boundaries” would “drive the Earth System into a new state”…
Some advocates suggest that the GND be funded through money created by government especially for this purpose – by electronically printing money.
In all these cases, the advance of money for investment ultimately requires ongoing expansion of capital, the modus operandi of the capitalist system, founded on the expropriation of surplus value in the labour process, which we know as economic growth. Without expansion, there is no, or insufficient, return on the outlay.
Despite the claims of some GND advocates, Green Deals are predicated on the expansion of GDP and as we saw, we can’t rely on that to decouple from material impacts.
That is, unless another way can be found. There are some indications that this might be possible.
Resource and energy caps.
Review evidence that credit needn’t imply growth.
Take production out of private ownership.
Redirect unnecessary expenditure. [Military]
Substitute material production with social & environmental stewardship / “dépense”.
Six problems for Green DealsSAUDI
Saudi military show remains of drones and say attack ‘sponsored’ by Iran.
I have only seen a picture and there is no sense of scale but the seven drones in the picture appear to be less than 3 meters. Certainly not capable of vast distances. This makes sense in that they must have been launched close to the facility and are ‘suicide drones’. This explains how the Saudi defence systems were ineffective. Also it explain why the holes were larger than I would expect from commercial drones.
This brings it back to the Houthis being responsible – fair enough when Saudi is at war with them.
The argument against the Houthis is that it would be difficult to import the drones into Yemen. BUT how difficult would it be to import these drones into Saudi Arabia? One or two shipping containers would be enough to supply all the drones used in the attack, including control equipment.
They are certainly not cruise missiles which shows the US was mistaken/lying. Nor do they look capable of flying any great distance which removes any idea of them flying from Iran or Iraq.
Pompeo is an expert. HE WILL BE ABLE TO TELL WHAT HE’S LOOKING AT.
I’m sure the serial # will determine who fired them.SAC/
The picture I saw was very different – found on
This showed much smaller drones.
A Guy is standing on the wood floor in this picture, providing scale.
https://www.foxnews.com/world/saudi-oil-attack-act-of-war-iran-pompeoOn the Peak Prosperity website I have seen satellite images of the damaged oil facilities. The tanks with holes in them are spherical and apparently hold gas (LNG), not oil or petrol or diesel or kerosene, etc. The holes appear to be quite neat and round and in much the same place on each spheroid and all oriented in the same direction, towards the north-west. The tanks appear also to have been empty. A punctured tank of LNG would burn like a blowtorch, not explode, and there should be scorch marks around the hole and elsewhere.
And why would Iran do anything so stupid like this when diplomatic efforts appear to be paying off? The Iranians are anything but stupid. This whole event is bizarre. Someone somewhere seems keen to start a shooting war.
To be useful in the Green/Green New Deal environmental push, it’s actually quite easy: Make like a Yankee.
“Use it Up, Wear it Out, Make it Do, or Do Without”
Do you really need to mow so much lawn? Why not a tiny lawn done in 5 minutes and lot of growth? Do you really NEED that new car? What for? To impress the neighbors? Old cars are paid for and mean you don’t need as big a job and can spend more time at home. Can’t you live closer to work and make less money, overall taking more home with less effort? Big houses are expensive to run and repair. Since when you live in a smaller one, you hardly notice, why own a big one? Families used to always raise 5 kids in 1,200 square feet and didn’t notice that much. My friends did. Then they could play cards with the family around the kitchen table, preferably by the wood stove.
What do all these things have in common? They all stop sales and drastically lower GDP. That would drastically lower lending, insider power, and tax revenue. What else do they have in common? They significantly raise the quality of life for nearly no cost. So therefore GDP ≠ Happiness. GDP ≠ Wealth. However Family + Happiness = Wealth.
And golly, all these things are thing your daddy told you and you can go do today, along with growing a garden, saying please and thank you, and exercising on your bike. Is anyone going to do them? Not on your life. There’ll be another 10,000 articles threatening to kill every OTHER human on earth — for being scum by disagreeing with my master plans first — to save humanity, naturally, all out of my overwhelming sense of love, deep concern, and kindness.
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